7 December 2025
The Belgian Aion Bank, formerly known as Banca Monte Paschi Belgium until 2019, has been fined 700.000 euro imposed by the FSMA, the financial market supervisor. This news can be read on Spaargids.be, where an extensive explanation is given about the background of this fine.
From 1 December 2019 to 30 June 2024, 7.232 customers received no loyalty bonus, or an incorrect bonus, on their traditional savings account. The loyalty bonus is an additional compensation that customers receive on their basic interest rate, provided that they leave their money untouched for more than a year. This amounts to a total of 550.898,01 euros.
The bank itself reported the errors to the FSMA in January 2024, after discovering the problems. It indicated that there were problems with the software used to calculate the interest. These problems date back to December 2019, when the software was put into use, and lasted until September 2024, when the calculation module was replaced.
The FSMA has decided to impose a settlement of EUR 700.000 on Aion Bank.
In addition, the bank is obliged to compensate its customers. It claims to have already paid out 530.316 euros. The remaining amount of 20.582 euros has been donated to a charity. This concerned money from customers who did not respond to the bank's communication, or amounts of less than 1 euro.
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